preapproved for $5000 from citifinancial

[Anonymous]

A pre-approved offer is not a guarantee of the loan. It simply means that when reviewing your credit profile, your profile met certain requirements that might get you the loan. Generally, they will still pull your credit report.

[Anonymous]

got the same letter is true--do you need it--check out all the details--I received one--actually hadnt had it one month paid 1/3 of it back --called to make payment the next month and was advised that i could extend my loan amount up almost 3000 more dollars if the funds were needed--I was pretty surprised--I hear you have to be careful with citifinancial with the word financial in the name but I didnt see much credit impact from my loan--I guess its always different for different people

[Anonymous]

I was in one of these loans earlier this year. HIGH HIGH APR!! 23.99..it was a killer but we payed that baby off in 4 months thank goodness...if i can help it i am going to stay away from these guys...only if you truly truly need this money..oh and yeah me and my boyfriend are now flooded with these offers every week and always with a higher limit (8000.00 last time i actually looked)

[Anonymous]

Are these unsecured loans a promissory note or a written contract?

[Creditaddict]

unsecured.

[specultr]

x

[Anonymous]

I got "pre-approved" for $6,400 so I called.  It means nothing...  You still have to thru the application process and then - if approved - you are looking at the high 20ish % on the loan...  Also, they will not approve a loan for i.e. a used car...  Check it out but be very careful - One more thing, they will do a hard pull as well... 

If you chose to "play" with them know all the rules first... 

Message Edited by lookingtothefuture on 02-23-2009 10:12 PM

[emptypockets]

They will probably approve you ( I remember when they used to send actual checks, you just cash it and then they sent you all the terms). I would only use it if I definitely needed it. I have 1 showing on my credit (no late pymts), but one of my credit reports listed having a consumer finance account on my credit report as one of the things that is hurting my Fico score. It says only 12% of Fico high acheivers have a consumer finance account. They are often secured by Chattell (household goods), and this also lists on your Credit report.

[Anonymous]

Are these unsecured loans a promissory note or a written contract?

[C-XRS2005]

I am pretty sure Citi Financial and most of the other CFL companies begin with 18% interest on all their loans.